SEC Filings

424B5
SUN COMMUNITIES INC filed this Form 424B5 on 05/30/2019
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Table of Contents

UNDERWRITING

BofA Securities, Inc., Citigroup Global Markets Inc., BMO Capital Markets Corp. and RBC Capital Markets, LLC are acting as joint book-running managers of this offering and BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as the representatives of the underwriters named below. Subject to the terms and conditions stated in the underwriting agreement dated the date of this prospectus supplement, each underwriter named below has severally agreed to purchase, and we have agreed to sell to that underwriter, the number of shares set forth opposite the underwriter’s name.

 

Underwriter

   Number of Shares  

BofA Securities, Inc.

     906,434  

Citigroup Global Markets Inc.

     906,434  

BMO Capital Markets Corp.

     453,217  

RBC Capital Markets, LLC

     453,217  

Fifth Third Securities, Inc.

     110,562  

J.P. Morgan Securities LLC

     88,450  

PNC Capital Markets LLC

     88,450  

BTIG, LLC

     88,450  

Robert W. Baird & Co. Incorporated

     55,281  

Regions Securities LLC

     55,281  

Samuel A. Ramirez & Company, Inc.

     44,224  
  

 

 

 

Total

     3,250,000  
  

 

 

 

 

The underwriting agreement provides that the obligations of the underwriters to purchase the shares included in this offering are subject to approval of legal matters by counsel and to other conditions. The underwriters are obligated to purchase all the shares (other than those covered by the underwriters’ option to purchase additional shares described below) if it purchases any of the shares.

The underwriters propose to offer the shares of common stock offered hereby from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part. The underwriters may effect such transactions by selling the shares of common stock to or through dealers and such dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or purchasers of shares of common stock for whom they may act as agents or to whom they may sell as principal. The difference between the price at which the underwriters purchase shares from us and the price at which the underwriters resell such shares may be deemed underwriting compensation.

If the underwriters sell more shares than the total number set forth above, we have granted to the underwriters an option, exercisable for 30 days from the date of this prospectus supplement, to purchase up to 487,500 additional shares of common stock at the same price per share as the other shares purchased by the underwriters in this offering. Any shares issued or sold under the option will be issued and sold on the same terms and conditions as the other shares that are the subject of this offering.

We and our executive officers and directors have agreed that, for a period of 60 days from the date of this prospectus supplement, we and they will not, without the prior written consent of each of the representatives, dispose of or hedge any shares or any securities convertible into or exchangeable for our common stock, subject to certain exceptions. The representatives, in their sole discretion may release any of the securities subject to these lock-up agreements at any time without notice.

The shares of our common stock are listed on the NYSE under the symbol “SUI.”

We estimate that our total expenses for this offering will be approximately $100,000.

 

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